The text shows that income elasticity for books is 1.44 . This means that

a. books are income inelastic
b. books are price inelastic
c. there's a 144 percent increase in book sales when income rises 10 percent
d. there's a 44 percent increase in book sales when income rises 10 percent
e. there's a 1.44 percent increase in book sales when income rises 1 percent


E

Economics

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